Vroom Vroom: British Designer & Manufacturer Zenos Cars Seeks £750,000 Through Seedrs For New Vehicles

Zenos Cars, a British car designer and manufacturer, has launched an equity crowdfunding campaign on Seedrs to raise £750,000 as it prepares to create new vehicles. 

The company, which was founded in 2012, designs and produces high-performance, lightweight sports cars that deliver thrilling driving experiences. In just three years, it has expanded quickly and sells a three-model range of innovative sports cars. More than 100 cars have been sold to customers around the world. Zenos sports cars are described as “clean-sheet” designs, created to provide excellent performance with plentiful cabin space, low running costs and an invigorating experience that can be enjoyed both by drivers and passengers.

Zenos Cars revealed that the production of its first car, the mid-engined E10, began in January 2015 and the range of E10, turbocharged E10 S and 500 bhp/tonne E10 R is now on sale in the UK, US, France, The Netherlands, Belgium, Japan, China, Switzerland and Italy. Half of its sales are outside the UK, and a greater proportion of customers than originally anticipated regularly drive their cars on the road as well as on the track.

Mark Edwards, managing director of Zenos Cars, stated:

“We have proven that we can deliver on our promise to make thrilling driving experiences accessible to more people, and we are now ready to introduce the next exciting series of models. This crowdfunding drive fits in perfectly with our ethos of inclusion, as it gives fans of exhilarating sports cars a chance to get involved in the next chapter of the Zenos success story. Our search for a crowdfunding partner that understood us and had a reputation for excellence led us to choose Seedrs.”

Tom Davies, Chief Investment Officer of Seedrs, added:

“We applaud Zenos Cars’ ambition to open up the experience of owning and driving a high-performance sports car to a wider audience by reducing the cost of ownership. The fact that Zenos sports cars are British-designed and British-built, and are generating such healthy export sales, is testament to the company’s successful formula. We are delighted that Zenos is partnering with Seedrs on this fundraising project.”

Funds from the campaign will be used for the production of at least 3 further models by 2019. The company noted:

“The first of these planned cars will be the 2-seat E11 Coupe which will add a roof, doors and increase day-to-day usability of the range whilst retaining high performance credentials. We believe we can produce the first level prototype of the E11 with £750,000 of further investment, and that is why we have set the campaign target at this amount. However we are looking to raise as much as we can now and any additional funding over this amount will allow us to also achieve full production documentation.”

Zenos Cars also revealed that it is planning on a larger raise later in the year, which will enable the company to move towards the next step in the E11’s journey towards production.